Which of the following is not a possible implication of federal budget deficits?
a. Crowding out
b. Increased interest rates
c. Inflation
d. Increased trade deficits
e. Depreciation of the dollar
Question 2
If the aggregate demand curve shifts rightward, then _____.
a. the price level increases and output decreases
b. the resulting increase in the price level is usually called cost-push inflation
c. the resulting increase in the price level is usually called demand-pull inflation
d. the price level increases as long as the aggregate supply curve shifts leftward
e. the price level decreases and output decreases
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Flexible exchange rates are supposed to prevent long-term trade deficits.